Edwards Lifesciences Beats on EPS; Revenues Light (EW)

Edwards Lifesciences Corp. EW reports Q3 earnings of $0.43 versus consensus of $0.42. Edwards Lifesciences Corp. reports revenues of $348.9 million versus consensus of $353.32 million. "Continued demand for our innovative new products again drove double-digit underlying sales growth this quarter, which gives us confidence to raise our earnings outlook for this year," said Michael A. Mussallem, Edwards Lifesciences' chairman and CEO. "Based on improved foreign exchange rates and our positive outlook, we are raising our full year sales guidance to between $1.435 and $1.455 billion. Excluding special items, we are increasing the mid-point of our 2010 guidance for diluted EPS by two cents to the range of $1.81 to $1.83, representing an annual growth rate of 19 to 20 percent," said Mussallem. "For the fourth quarter 2010, we project diluted EPS, excluding special items, of $0.52 to $0.54." Shares of EW are lower in the after-hours by 0.59%.